The Value of a Human Life: $129,000
Written on October 1, 2008 by Tezza
We all want to hold on to the age old notion that life is precious and that you can’t put a price on a human life but clearly that isn’t always the case. While first world countries live in obscene excess wasting countless tonnes of food daily, people less privileged are dying from hunger everyday. In fact according to the UN some 18,000 children die every day because of hunger and malnutrition and 850 million people go to bed every night with empty stomachs. So how do you put a value on a single human life, is one person’s life more valuable than another?
According to a Time article, health insurance companies around the world do just that. They put a value on human life and put simply, “insurance companies calculate that to make a treatment worth its cost, it must guarantee one year of “quality life” for $50,000 or less. New research, however, would argue that that figure is far too low.”
“Stanford economists have demonstrated that the average value of a year of quality human life is actually closer to about $129,000. To get to that number, Stefanos Zenios and his colleagues at Stanford Graduate School of Business used kidney dialysis as a benchmark. Every year dialysis saves the lives of hundreds of thousands of Americans who would otherwise die of renal failure while waiting for an organ transplant.”
“Assigning a dollar figure to Medicare patients’ lives may sound crass, but such valuations are routine in Americans’ daily lives. Take, for example, the $500,000 death benefit the government pays families when a soldier is killed in Iraq or Afghanistan. Or the cost calculations that for-profit health insurers make to determine how much coverage they’ll give customers.”
So who comes up with these cost benefit calculations? Is it even right that we can have faceless multinational institutions putting arbitary values on a human life?
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I could put less of a number on some people…haha jk!
Assigning values in this way is a bit hard to accept for some individuals, but it appears that the current trend will lead to almost any element of day-to-day activity being expressed in terms of monetary value.
Humans cannot be expressed by money however, as the way the world is going now, people will have a monetary value and will be expressed so.
Insurance rates bids for human life value
@Trevor – LOL I kinda agrree with you. But placing a value on humans will devalue the prive.
Great post,lets not forget that monetary value does increase and decrease the economical values.
Funny while working as an EMT at a NASCAR race one weekend. I arrived on scene of a man who’d had a heart attack bystanders were performing CPR, he was by all accounts dead. My partner and I defibrillated him shocked his heart to get it going again. Loaded him in the ambulance for transport. His heart stopped enroute, we shocked him again and got him to the hospital. Total time from our arrival on scene to turning him over to the doctors in the hospital including stops to shock was 40 minutes. So if we factor his life by the amount that I got paid to save it we come to a grand total of (drum-roll please) $8. Really sad when you factor that some of the NASCAR drivers he was there to see made millions that day.
Interesting, while reading this passage “In fact according to the UN some 18,000 children die every day because of hunger and malnutrition and 850 million people go to bed every night with empty stomachs. So how do you put a value on a single human life, is one person’s life more valuable than another?”
The answer is NO
It’s jaw dropping that insurance companies even put a price tag on a human life.
Hi KC, Thanks for sharing such an eye opening experience. It highlights the inequality that exists. I think until there is mass consciousness in recognising that this inequality is no longer self serving for all then it will continue to exist in all its varied forms.
While this may be hard for some people to accept, there have to be benchmark figures for insurance companies to go off of. This number represents a financial equivalent, not an intrinsic one.
I can see the difference in value between guilty murderers and innocent life… but why is there an age difference? The killing of a child is indeed among the most tragic of events, but when an innocent adult is killed, it rarely makes anyone bat an eye.
It’s just sad looking at these statistics. When society rules depress me, I always remember “dead is the end for all” and no matter how sad a situation could be, there is always a solution, except for dead. People have forgotten the truth about life, and it’s not money. One day I read a proverb which always cheer me up. “Those who know what are waiting for, are waiting to be dead, but while they are waiting, they surround of beauty and strength their lives”
I thing you are right we can’t judge any amount for the human life. I have read your second post and i thing so that in your every post will find a unique topic of debate.
Interesting article! The whole idea behind cost-benefit analysis is also presented in Joel Bakan’s book, “The Corporation: The Pathological Pursuit of Profit and Power” and really deals with putting a price on a human life. Definitely read that book when you get the chance. I also didn’t know about the $500,000 death benefit paid by the government.
I remember when I was a kid they said that a human was made up out of 98 cents worth of chemicals. On the other hand if you were to value each of the component parts of a human it probably adds up to a LOT more.
What is a heart, kidney or lung worth in a transplant. What is the value of a pint of blood or skin for skin grafts. All of these items have a price and they sure add up to more than $129,000
Just founf a very great thought from this post and one can not make any guage about the value of a humanlife as its so precious and invaluable. But as it comes to the insurance one can say its just a figure for financial equivalent.
The most stark difference you will see in this case, is that nobody will come to the defense of Pouillon’s murderer.Considering the outpouring of support on PJM for the killer of Dr. Tiller, this difference is more than sufficient to make clear the contrast in perspectives at play here.
I think the value of human life is unvalue, if I may say so! In ethic and gumanity sens…
The prophets last sermon instructed Muslims not to make such a distinction among people…but obviously that has long since been forgotten.
wow, that is pretty morbid to think about. But a very interesting article.
When society guidelines depress me, I constantly recall “dead is the end for all” and no matter how sad a scenario may be, there is certainly constantly a alternative, except for dead. Persons have forgotten the truth about life, and it is not dollars. 1 day I go through a proverb which always cheer me up. “Those who know what are waiting for, are waiting around being dead, but whilst they are waiting, they surround of beauty and strength their lives”
Exciting, though reading this passage “In truth according towards UN some 18,000 young children die every single day mainly because of hunger and malnutrition and 850 million men and women go to bed each and every night with empty stomachs. So how do you set a worth over a single human life, is 1 person’s existence more valuable than yet another?”
It really is absurd to put a value such as that on a human life, I would never put one like that if I was working at an insurance company, I’d likely change the way Insurance was handled.
Till then,
Jean
Hi i think that is reallty very useful and also very impressive all is share again by again all lovely sharing looking very fantastic *hugs*
This was not an argument for or against socialized medicine. A similar argument can be made about private insurance. There is a point where people cost their insurance companies enough that they will cancel the coverage, and then new coverage becomes difficult and very expensive to get, if there are pre-existing conditions.
Is this the average cost of a human life? What about the people who are worth more then that like the celebrities?
This whole adminstration is not about our “inalienable rights” it is about imposing their views of social living on everyone else. Obama and company are very dangerous people and need to be stopped. They have no business in running this great country of ours.
It’s hard to put a value on a human life. Everyone has limitless potential and to put one person’s life at a higher value than the other can’t be right. Maybe in the case of presidents or other such ‘important’ people, such a thing might exist, or how servicemen, including soldiers and doctors were important during WW2 is another example that could be drawn as whole nation was counting on those people to protect them.
That Very Amazing … What is My Cost .. I want to calculate , I am 23 Year Old Blogger from UK
I understand your point but you leave out one main factor, only human beings have a soul.
hi dud,thanks for the good idea.keep sharing……………….bye take care…………
He Pathological Pursuit of Profit and Power” and really deals with putting a price on a human life.thanks for shearing..
i also saw videos of peoples cats attacking their own children and the parents usually mothers just laughing saying how cute it was and when the child hit the cat back the parents yelled at him…..
It is the ongoing discussion about drugs which cost thousands of dollars and can just increase human life by a day or month. I think, it is not the insurance agency which has to calculate it. It’s the government job to provide health facility to it’s citizens.
After we are born , we are pushed into life by the fellow human beings . But as we grow , we fight for our survival . Again at some stage we have to leave someday.
I’ve heard about this before… I took an economics class before where we talked about how the government compensated victim’s families of 9/11 differently. There as well they were pricing individual lives.
You R absolutely right ,English is not my first language. any ways thanks for correcting me. but if astrology is base less then Y people R so much believe in it, i m not talking about illitratte, but well educated peoples R also strongly believe in it.this is new field of business, any ways thanx
i have been doing some research online and watching some videos and something has come into my mind its that people value the life of animals more than the life of children i recently saw photos.
It almost seems that way sometimes lately, stag. I knew someone who worked for PETA that was more concerned about a runaway predator than the humans it may hurt or kill.
It is a good theory about human nature.I read this article with open mind.You are really right here.
It pathological pursuit of profit and power “and really treated to a price for a human life.thanks set for shearing ..
I know a few people that would put more value on their pets than others.
The killing of a child is indeed among the most tragic of events, but when an innocent adult is killed, it rarely makes anyone bat an eye.
One day I read a proverb which always cheer me up. “Those who know what are waiting for, are waiting to be dead, but while they are waiting, they surround of beauty and strength their lives”
malnutrition and 850 million people go to bed every night with empty stomachs. So how do you put a value on a single human life, is one person’s life more valuable than another?”
After we are born , we are pushed into life by the fellow human beings . But as we grow , we fight for our survival . Again at some stage we have to leave someday.In this birth-death process , who is a successful human being.
a bit hard to accept for some individuals, but it appears that the current trend will lead to almost any element of day-to-day activity being expressed in terms of monetary value.
I’ve heard about this before
Keep in mind this is the half with the worst financial burdens. the poorest half of the global population.Would you be willing to sacrifice your life for half of the global human population.Thanks
Just founf a very great thought from this post and one can not make any guage about the value of a humanlife as its so precious and invaluable
It is really very high price. $129,000 average is very high price for a human life. But many humans are just living their life’s in a short span of time.
We are the only beings that don’t know true balance. We are selfish to the grave, largely. I want an explanation on why our lives are “special” in comparison to EVERY OTHER LIVING CREATURE!What makes human life more meaningful than another creatures life?
If you had to make a choice between saving one of your loved ones and a dog, which one will you choose? Although it would be painful, I would choose the loved one, because they’re more special to me. That’s one way of looking at it.
I can’t really even imagine putting a price on a humans life. I believe it is priceless but when you have to put a number on it I think they were rational with their thought process.
scenario may be, there is certainly constantly a alternative, except for dead. Persons have forgotten the truth about life, and it is!!
enroute, we shocked him again and got him to the hospital. Total time from our arrival on scene to turning him over to the doctors in the hospital including stops to s!!
Just wondering, how valuable do you think a human life is? Do you think that everyone’s life is equal and that every person is just as valuable as the next? Or can you measure the value of life by relationships; the person who is most cared about is the most valuable and worthful. Or is it a monetary value? Or is it someone’s contribution to society? Thanks
Nice post. I learn something more challenging on different blogs everyday. Thanks for sharing.
The value of human life is inalienable, and to be determined only by its owner so long as that owner recognizes the inalienability of all other human lives; then it becomes the responsibility of the lawfully appointed courts to determine what is to be done with the value of that life which usurped the rights of another.
I can see the difference in value between guilty murderers and innocent life… but why is there an age difference? The killing of a child is indeed among the most tragic of events, but when an innocent adult is killed, it rarely makes anyone bat an eye.
Actually in today’s world there is no value for humane life.There are lots of incidences taking place that can prove this….
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Existense of human being will be there…. But no feelings like anger, stress, happiness, sadness, etc., etc., But we work.. We eat… we sleep…! we feel hungry..Can able to recognise the sense of touch…! can able to feel the pain..! All kind of physical activities haves no problem…! But mentally we are nothing…!How will be our life…. Answer me with your imaginary views
I didn’t read all the additional details, but abortion is very wrong to me. What about the children that are killing people like when that civil war was going on in Seirra Leone and RUF brain washed kids to kill?
An Australian immigrant to Israel, Aussie Dave has been blogging since early 2003.
I don’t think so,Human life has priceless.A normal human can be a layman or Nation’s path-maker.
I have to submit a project in my school in which I have to describe the seven continents of the world.
I have to provide continent wise occupation , natural resources & Human life. Any other additional information will be very helpful to you.
I believe that human life is priceless.I think a person can change the nation,weather it men or women.
I’m not agree with the post here. Health insurance a different issue in it.People secure their-self for sudden loss.
Nice post telling about human value i think all is very funny title also ….;)
Hi i think no limit for The Value of a Human Life i think no much title according or only funny….
Talking about money considering human life seems horrible,but as you said,insurance need to give you a value,especially if you make a life insurance
I think this is one topic that many will never agree or fully understand. When it comes to putting a value on life I think a life is priceless, but everyone’s definition is different.
This is gives us a clue about the the nature of humanity which makes it valuable – a human’s intelligence, but it also raises uncomfortable questions
After Sept. 11, I confronted the challenge of placing a value on human life by calculating different amounts of compensation for each and every victim…………..
I think what a person does is what increases their value. So many people die daily in road accidents, wars, etc. but no one really seems to care but for their close ones. Whereas if someone like a renowned actor or sports star dies, millions mourn.
-Jean
I read the post above,I personally think that human’s life is priceless.I admire the writing above but It only a personal opinion.Thanks
Health insurance is must for all people.I think its just a judgement.Everyone has their own ideas and thinking.
But ultimately idea behind it was awesome.